Status: You are viewing the version of the handbook as on 2007-10-31.

EIS fund

    an arrangement, specified in paragraph 2 of the Schedule to the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001 (SI 2001/1062), which is in summary: an arrangement in relation to EIS shares that would have been a collective investment scheme if the scheme arrangements had not provided that:

      1. (a) the operator will, so far as practicable, make investments which, subject to each participant's individual circumstances, qualify for relief under Chapter III of Part VII of the Income and Corporation Taxes Act 1988; and
      1. (b) the minimum subscription to the arrangements by each participant must be not less than £2,000.4